Grandview Asset Management LLC Purchases Shares of 4,094 RTX Corporation (NYSE:RTX)

Grandview Asset Management LLC purchased a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,094 shares of the company's stock, valued at approximately $542,000.

A number of other hedge funds also recently modified their holdings of RTX. 1620 Investment Advisors Inc. increased its stake in shares of RTX by 0.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock worth $1,401,000 after purchasing an additional 79 shares in the last quarter. Fusion Capital LLC boosted its holdings in shares of RTX by 0.5% in the fourth quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock worth $1,754,000 after acquiring an additional 80 shares during the period. McDonough Capital Management Inc grew its position in shares of RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after purchasing an additional 80 shares in the last quarter. New England Professional Planning Group Inc. raised its stake in shares of RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after purchasing an additional 81 shares during the period. Finally, Pointe Capital Management LLC lifted its holdings in RTX by 0.5% during the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock worth $2,047,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target on RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 23rd. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and raised their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Susquehanna dropped their price target on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $159.82.

RTX Trading Up 1.4%

NYSE RTX opened at $148.50 on Wednesday. The stock has a market cap of $198.39 billion, a P/E ratio of 43.55, a P/E/G ratio of 2.65 and a beta of 0.63. The stock's fifty day moving average price is $132.34 and its 200-day moving average price is $126.91. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.56. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.83%. RTX's payout ratio is currently 79.77%.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.

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